Price Update30 May 2026, 05:42 pm
Bank of India Revises MCLR and FRS w.e.f. 01.06.2026
AI Summary
Bank of India has announced changes to its Marginal Cost of Funds based Lending Rate (MCLR) and Fixed Rate Spread (FRS), effective June 1, 2026. The Repo Based Lending Rate (RBLR) remains unchanged. The revised MCLR includes overnight rates at 7.70%, one-month rates at 8.05%, three-month rates at 8.20%, six-month rates at 8.60%, and one-year rates at 8.75%. The three-year MCLR is set at 8.90%. The Fixed Rate Spread has also been revised, with rates varying based on tenor and including a credit risk premium (CRP).
Key Highlights
- Bank of India revises MCLR and FRS effective June 1, 2026.
- Repo Based Lending Rate (RBLR) remains unchanged.
- MCLR for one-year tenor is revised to 8.75%.
- Fixed Rate Spread (FRS) is changed based on tenor and includes CRP.
Price Impact
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